Question

Corporate Social Responsibility (CSR), also known as corporate conscience, corporate citizenship, or responsible business, is a form of corporate self-regulation integrated into a business model. A CSR policy functions as a self-regulatory mechanism where a business monitors and ensures its active compliance with the spirit of the law, ethical standards, and international norms. In some models, the implementation of CSR goes beyond compliance, engaging in actions that appear to further social good beyond the interests of the firm and beyond what is required by law. The aim is to increase long-term profits and shareholder trust through positive public relations and high ethical standards, thereby reducing business risks and legal challenges. By taking responsibility for corporate actions, CSR encourages a positive impact on the environment and stakeholders, including consumers, employees, investors, communities, and others.

Every year, the Reputation Institute, a private global consulting firm based in New York, assesses 47,000 corporations around the world to list the hundred most reputable companies. These are multinational entities with a global presence. One of the studies found that people's trust in a company is influenced by their perceptions of the company's social responsibility.

Your Task:
Select a company (domestic or international ) that will be the basis for your research

Answer 1

Corporate Social Responsibility (CSR) is a form of corporate self-regulation that involves a company actively complying with legal standards, ethical principles, and international norms. It goes beyond compliance and encompasses actions that benefit society and stakeholders. Patagonia is an example of a company that emphasizes CSR through sustainability and environmental responsibility.

Step-by-step explanation:

Corporate Social Responsibility (CSR) is a form of corporate self-regulation integrated into a business model. It involves a company actively complying with legal standards, ethical principles, and international norms. CSR also goes beyond compliance, engaging in actions that benefit society and stakeholders. For example, a company may implement environmental sustainability practices or support community development programs.

One example of a company that emphasizes CSR is Patagonia. Patagonia, an outdoor apparel company, prioritizes sustainability and environmental responsibility. They invest in renewable energy, reduce waste, and advocate for environmental causes. Patagonia's CSR efforts have helped build a positive reputation and attract environmentally conscious customers.

Overall, CSR is a way for businesses to demonstrate social responsibility, improve public relations, and contribute to the well-being of the environment and society.